The U.S. Congress is preparing to take up measures to extend a number of advanced energy tax incentives, including the Production Tax Credit that expired at the end of 2013. Before the U.S. Senate Finance Committee will meet next week to mark up legislation to extend these incentives, they need to hear from you!
Already a group of 28 Senators and 118 Members of Congress have signed on to letters urging Congress to extend the Production Tax Credit, and the Senate Finance Committee is also poised to take up the Section 179D credit for energy efficient commercial buildings, as well as a number of others. The following table outlines the tax extenders in play:
Michigan EIBC strongly supports a competitive and predictable tax environment at both the state and federal level, and encourages member business to contact members of the Michigan Congressional delegation to voice your support of tax changes that could help grow our industry.
Please join Michigan EIBC in urging Congress to support a multi-year extension of these tax credits that are critical to advanced generation systems, smart grid technology, energy efficiency improvements, advanced transportation infrastructure, and advanced fuels. Additionally, replacing the investment tax credit (ITC) placed-in-service deadline with a commence construction standard would allow industries to make full and effective use of the ITC through its current expiration in 2016.